Buckeye Tank Terminals, a subsidiary of Buckeye Partners LP, last month signed an agreement to buy Chevron’s petroleum products terminal in Pert Amboy, New Jersey, for $260m in cash.
M&A The global bulk liquids storage terminal business has continued its frenetic pace of mergers, takeovers and expansion projects throughout this year.
CONSTRUCTION Planning a new bulk liquids terminal or a significant extension to an existing facility takes time, so it is probably no more than a coincidence that the last few weeks have seen a raft of announcements from Vopak
EXPANSION With the global recession still weighing heavy on industry, it is remarkable that terminal operators around the world have not only remained upbeat through the downturn but are continuing to invest heavily.
INNOVATIONPressure to reduce the carbon footprint of transport operations is encouraging manufacturers and operators to look anew at the way they build and operate road and rail assets.
European logistics provider Wincanton has strengthened its petroleum and chemical gas distribution business with £112m extensions to its contracts with Chevron and Air Products.
The LNG fleet is currently undergoing a period of unprecedented growth with the pace of newbuilding limited seemingly only by shipyard capacity. While the demand for these ships is coming too, there is concern that delays to a number of project will result in oversupply, especially in the short-term trades
